Islamabad: The Securities and Exchange Commission of Pakistan (SECP) has issued a directive mandating the integration of digital payment systems across all licensed entities under its regulatory umbrella. The new regulation, announced on August 29, 2025, aims to streamline financial services markets by encouraging the adoption of digital payment solutions.

Under the authority of Clause (m) of Subsection (4) of Section 20 of the SECP Act, 1997, the Commission has outlined the requirement for licensed entities to implement digital payment systems, specifically the Raast OR code, within their offices and branches. Furthermore, these entities are required to prominently display digital payment options such as OR Code, POS, Soft POS, and internet and mobile-based payment mechanisms.

The deadline for implementing these digital solutions is set for October 31, 2025. All licensed entities must ensure compliance and report their integration status to the Commission at the designated contact email.

According to information available from the Pakistan Stock Exchange (PSX), the directive aligns with ongoing efforts to modernize the financial services infrastructure. This initiative is expected to facilitate seamless transactions and enhance the overall efficiency of financial operations within the regulated sectors.

The SECP’s directive underscores a significant move towards modernizing payment systems in Pakistan, promoting accessibility and convenience in financial transactions. The Commission’s regulatory framework, supported by Sections 40 8 of the SECP Act, 282D of the Companies Ordinance, 1984, and 418 of the Modaraba Companies and Modaraba (Floatation and Control) Ordinance, 1980, serves as a foundation for this initiative, ensuring a comprehensive approach to digital transformation in the financial services industry.